RV Sector Weathering Economy…For Now
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIn the face of strong economic headwinds and supply chain issues, the recreational vehicle industry is registering double digit sales gains and that’s good news for northern Indiana, which produces nearly 90% of all RVs in the U.S. But Economic Development Corp. of Elkhart County Chief Executive Officer Chris Stager says rising gas prices could quickly change things.
“If it’s a $5 threshold, it’s going to definitely impair the ability to sell these units,” said Stager. “Obviously discretionary money for every family now is a challenge and discretionary purchases, when you have to get to work, and you have to pay high fuel costs all play into that.”
Stager talked about the importance of the industry to the northern Indiana economy on this weekend’s edition of Inside INdiana Business with Gerry Dick.
The Recreational Vehicle Industry Association reports that for the month of March, manufacturers shipped more than 64,000 units, a 19 percent increase over March of 2021.
The RVIA, which is headquartered in Reston, Virginia, says estimates for the full year point to a leveling off of production, but still a strong year, with approximately 600,000 units, slightly below 2021 levels.
The RVIA says Indiana factories account for about 86% of all U.S. RV units.